FOR SALE – STARBUCKS RESTAURANTWilmington, North Carolina 28401 Asking Price: $2,895,146 Cap Rate: 4.8% Under Construction
*Initial 10 Year Term
*No Early Termination Clause
*10% Rental Increase in Year 6
National Asset Realty, LLC
Please contact:
Joe Pope
1530 Williams Street
Columbia, SC 29201
803-446-4457 (c)
Offering Memorandum
PROPERTY HIGHLIGHTS
Tenant Starbucks Corporation
Location 2018 S. 16th Street, Wilmington, NC 28401
Building 2,510 SF
Site .74+/- Acres
Parking 26 Spaces
Built 2020 (Opening February)
Initial Term 10 YR (No Early Termination Clause)
Lease NN
Annual Rent YR 1-5 $138,967.00
YR 6-10 $152,863.00
Lease Commencement February 1, 2020
Lease Expiration February 28, 2030
Options 6 Five Year Options w/ 10% Rental Increase Per Option Period
Building Single-Tenant, Single Story
Tenant Responsibilities HVAC, Taxes, Insurance, Lighting, Plate Glass, Doors, Interior Walls
Side Photo
Side Photo
FOR SALE – STARBUCKS RESTAURANTWilmington, North Carolina
Demographics 2019 1 Mile Radius 2 Mile Radius 3 Mile Radius
Population 7,765 32,525 61,180
Median Age 44.2 39.7 38.1
Median Household Income $42,319 $40,895 $43,893
Daytime Population 12,245 36,054 64,934
Wilmington, North Carolina
FOR SALE – STARBUCKS RESTAURANT
INVESTMENT HIGHLIGHTS
2018 Traffic Count (16th Street): 37,000 VPD
This Starbucks is located across the street from the New Hanover Regional Medical Center (745 bed hospital).
Across the street, is the new surface parking lot for NHRMC. Construction to build a new parking garage to begin soon.
It is down the street from the new Orthopedic Hospital with 108 beds completed in 2019
FOR SALE – STARBUCKS RESTAURANTWilmington, North Carolina
Wilmington
Charlotte
Fayetteville
Columbia
N. Charleston
FOR SALE – STARBUCKS RESTAURANTWilmington, North Carolina
NEWHanover Regional Medical Center
(745 Beds)
NEW Orthopedic Hospital
(108 Beds)NHRMC Employee Parking Garage
NEW Hospital Surface Parking Lot
Wilmington is located in southeastern corner of North Carolina on the Cape Fear River. It is an historical port city, and in 2003 the U.S. Congress designated it a “Coast Guard City”.
It is also the eight largest city in North Carolina with a 2018 population of 122,607. The population has grown over 15% since 2010.
Wilmington is the county seat of New Hanover County and the principle city of the Wilmington Metropolitan Statistical Area (MSA). Wilmington is also home to UNC Wilmington, which has an enrollment of approximately 17,000 students.
Carolina Beach and Wrightsville beach are just a few of the many beaches located near Wilmington. The World War II Battleship USS North Carolina as well as the US Coast Guard Cutter Diligence are located near the beautiful river walk area of Wilmington.
The largest TV and movie production studio in the U.S. outside of California, EUE Screen Gems Studious, opened in Wilmington in 1984.
FOR SALE – STARBUCKS RESTAURANTWilmington, North Carolina
DISCLAIMER
• The information contained in this offering memoranda has been prepared to provide a summary of information. It does not purport to be all-inclusive and is not a substitute for a thorough due diligence investigation. The owner and its representatives make no warranty or representation as to the accuracy of this information.
• National Asset Realty has not verified and will not verify any of the information contained within. The information contained in the offering memorandum has been obtained from sources we believe to be reliable. No legal obligations shall rise from the contents of this memorandum.
• By receipt of this memorandum you agree that the information within is of a private nature and that you will keep it confidential. You also agree to hold National Asset Realty harmless from any claim or liability throughout your investigation and or purchase of the property.
• National Asset Realty represents the Seller of this property.